Y & D Collins Limited Acquires Retail Property On Collins Avenue, Miami Beach For $5.5M
SOLD
$5,500,000
Florida
See Similar DealsRetail8,700 SF
Sold 07/19/2023
SOLD
Y & D Collins Limited Acquires Retail Property On Collins Avenue, Miami Beach For $5.5M
6644 Collins Ave Miami Beach, FL 33141, USA
See Similar DealsRetail8,700 SF
Sold 07/19/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$632
Total Square Footage:8,700 SF
Transaction Type:Sale
The property involved in this transaction is a retail space located at 6644-6650 Collins Avenue in Miami Beach. The property spans 8,700 square feet and was sold for a price of $5,500,000, resulting in a price per square foot of $632. The buyer, Y & D Collins Limited, represented by Haim Yehezkel, purchased the property from the seller, Jonas Family Trust.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,500,000
- Address: 6644-6650 Collins Avenue, Miami Beach
- Market: Miami Beach
- Buyer: Y & D Collins Limited - Haim Yehezkel
- Seller: Jonas Family Trust
- Buyer's Representative: Greg Greer - Charles Rutenberg Realty
- Seller's Representative: Nelson Gonzalez - Berkshire Hathaway HomeServices
Greg Greer from Charles Rutenberg Realty represented the buyer, while Nelson Gonzalez from Berkshire Hathaway HomeServices represented the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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